Disliked{quote} That 2250 level, very delicate. However ,the bears are setting up their raid, it's feeding time.. Grrrrrhhhh!!!Ignored
Whilst I agree the trend is clearly down - are major sellers here? well, perhaps they are but when I look at the chart of a major currency at Multi Year Lows and one that has been in this trend for some time I begin to look for swing opportunities to redress the balance a little..Even its it nothing more than allowing major sellers an opportunity to reach liquidity zones to add to their positions.
I still see GU hitting at least 1.20 so its low leverage entries into this level for long trades my end and I scale in and out to take profits along the way.
Certainly can't rule out another end of year dive before Banks, larger commercials and hedge funds start closing books and winding down for year end so I'm happy to accumulate into the closing 8 weeks of 2016.
Each to their own and pips are there for all traders depending on their time horizons